Calamos Advisors LLC Cuts Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Calamos Advisors LLC decreased its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,654 shares of the specialty chemicals company’s stock after selling 3,065 shares during the quarter. Calamos Advisors LLC’s holdings in Sherwin-Williams were worth $35,111,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Sherwin-Williams in the fourth quarter worth $1,176,356,000. Capital World Investors grew its holdings in Sherwin-Williams by 38.9% during the 4th quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock valued at $1,197,952,000 after purchasing an additional 1,075,351 shares during the last quarter. PineStone Asset Management Inc. grew its holdings in Sherwin-Williams by 132.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after purchasing an additional 917,979 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Sherwin-Williams by 610.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock worth $311,971,000 after buying an additional 898,143 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Sherwin-Williams by 8,986.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 534,121 shares of the specialty chemicals company’s stock worth $166,592,000 after purchasing an additional 528,243 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

Sherwin-Williams stock traded up $0.82 during midday trading on Friday, reaching $358.73. The company had a trading volume of 1,358,595 shares, compared to its average volume of 1,622,454. The Sherwin-Williams Company has a 12-month low of $232.06 and a 12-month high of $360.70. The firm’s fifty day simple moving average is $326.52 and its 200-day simple moving average is $321.39. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. The company has a market capitalization of $90.96 billion, a P/E ratio of 38.24, a P/E/G ratio of 2.79 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same period in the previous year, the company posted $3.29 earnings per share. The business’s revenue was up .5% on a year-over-year basis. As a group, equities analysts anticipate that The Sherwin-Williams Company will post 11.44 EPS for the current year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be paid a dividend of $0.715 per share. The ex-dividend date is Friday, August 16th. This represents a $2.86 annualized dividend and a yield of 0.80%. Sherwin-Williams’s dividend payout ratio is presently 30.49%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SHW shares. UBS Group dropped their price target on Sherwin-Williams from $385.00 to $355.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. The Goldman Sachs Group upped their target price on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley lifted their price target on Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company raised their price objective on Sherwin-Williams from $320.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $355.00.

About Sherwin-Williams

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.